On Monday, August 11, New York Islanders owner Charles Wang was served with a lawsuit demanding $10 million in damages for allegedly backing out of a deal to sell the team.
Philadelphia based hedge-fund manager Andrew Barroway’s company NY ICE claims that on March 10, Wang and Barroway reached a sale agreement, culminating in a handshake. NY ICE was to receive 100% equity in the Islanders in exchange for $420 million. The papers filed in New York County Supreme Court state that the negotiations began …
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